17 February 2005
CPR and
CAW-TCA Canada Reach Agreement in Pinciple on Three-Year
Contract With Freight Car and Locomotive Repair and Servicing
Employees
Canadian Pacific Railway
(TSX/NYSE: CP) and the CAW-TCA Canada announced today that they have reached agreement in
principle to renew collective agreements governing approximately 2,600 employees who maintain and
repair locomotives and rail cars.
The three-year agreement, which extends to the end of 2007, provides for wage, benefits,
work rule and productivity improvements. Details are not available pending ratification.
"The manner in which this agreement was negotiated speaks to the positive business relationship
that exists between CPR and the CAW-TCA Canada," Rob Ritchie, President and Chief
Executive Officer of CPR, said. "We have reached an agreement that delivers value for CPR's
shareholders and recognizes the important contribution these employees make to safe and efficient rail
operations and reliable service."
Tom Murphy, President Local 101 with the CAW - TCA Canada, said the agreement is the first in 18 years
that was secured with CPR without the use of third-party assistance. "We are very
pleased to see the successful conclusion of this negotiation," Mr. Murphy said.
Ratification results will be determined over the next few months.
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